How Block Chain Technology Could Usher in Digital Democracy
In the digital age, it seems strange that people all around the world still use paper to vote. Of course, given bitcoin's promise to remove paper from the financial system, many in the industry are beginning to ask if the same block chain technology can be applied to help modernize the democratic process. There's good reason, as the traditional paper voting system has its flaws. In 2012, when the last US election occurred, one in every eight voter registrations was invalid or inaccurate, and 2.7 million voters were registered in multiple states. That's a terrible statistic in a system used....
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A developing plan in Mexico to create a digital peso could demonstrate the potential of bitcoin technology to the rest of the world, if it's successful. After all, digitizing the currency would be just one part of a greater endeavor to adopt block chain technology into what the project's leader hopes might become a more transparent and trustful bureaucracy and democracy. The plans could have many far-reaching implications for the country's economic and political problems; namely, the remittances market, the tax process and the country's unbanked population. "I'm sure there will be a day....
It's been said time and time again that the technology behind bitcoin, particularly the block chain, can go far beyond its use as a currency. One such use: voting. A report from website Version2 indicates that the Liberal Alliance in Denmark (a political party) will soon use the block chain for internal voting in Hvidovre, a suburb of Copenhagen. According to a translation provided by Reddit user 'Dymix', "It will happen at the next general assembly, later today." The cunning aspect of the technology, is that it is incredibly hard to change the existing content, since every new datablock....
Nasdaq hasn't been around Bitcoin's Block Chain very long, but they like what they see and are moving to integrate fully with its innovations. The new technology the block chain provides intrigues Nasdaq enough to begin a larger integration with their product portfolio, and the ability to make new offerings for their clientele. In the second half of 2015, this will allow Nasdaq to create a block chain-enabled digital ledger program for the expansion and enhancement of the Nasdaq Private Market platform. NASDAQ Expands Use of Bitcoin's Block Chain Technology. Their implementation of the....
As Bitcoin technology evolves and grows past the "early adopter" stage, more and more businesses are entering the space looking to provide the market with innovations based on Bitcoin's block chain technology. Today, there are many businesses that are in perpetual pre-launch, like the vaunted Open Bazaar, who seems to have been on the brink of release ever since Bitcoin was just a whitepaper. The cloud storage industry within the Bitcoin community is still an open door to entrepreneurs, and Sia has stepped forward to fill this market niche. In the mainstream, you have companies like Amazon....
Bitcoin was designed to be a decentralized and trustless payment network - with the power to do this provided by the block chain and its ability to publicly confirm the digital currency's digital transactions. Rather contentiously, however, as the bitcoin economy expands, more and more transactions are being carried out off the block chain. Such transactions are tracked on private databases instead of the block chain, and cannot be publicly tracked. There are pros and cons to both systems. So, which are better? Off-block chain or on-block chain transactions? Visible payments. Legitimate....